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Global financial markets posted gains through mid-July following the worst equity market decline in the first half of a year in over 50 years and despite accelerating inflationary pressures and increased likelihood of consumer recession. Equity markets posted gains led by Technology while Cyclicals and Telecom also gained; regional equity gains were led by France, the Netherlands, and India. Interest rates declined modestly despite continued expectations for Federal Reserve rate increases – the US Dollar gained sharply against most currencies. Oil & Copper led commodity declines across Energy & Metals while Natural Gas surged; Corn & Coffee posted steep declines in Agriculturals.
The HFRI-I Liquid Alternative UCITS Index declined -0.46% through mid-July.
Comments reference performance figures as of July 15, 2022